The London Metal Exchange (LME) aluminium price graph continues to drop across the pricing and contract segments on the September 24 trading session, reporting declines over the September 23 close . The LME aluminium cash bid slumped from USD 3,239.5 per tonne to USD 3,227 per tonne, rising 0.39 per cent. The offer price moved from USD 3,240 per tonne to USD 3,228 per tonne, dropping by 0.37 per cent. Explore- Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid contracted from USD 3,258 per tonne to USD 3,252 per tonne, decreasing by 0.18 per cent. The offer price plunged from USD 3,260 per tonne to USD 3,252.5 per tonne, representing a 0.23 per cent...
The transition towards lower-carbon manufacturing is changing how companies evaluate aluminium and copper. Beyond availability and technical performance, buyers are increasingly examining the emissions embedded in the metals they purchase and whether reducing that footprint justifies a higher price. While low-carbon aluminium has developed into an established premium market, low-carbon copper remains at a developing stage, raising the loaded question: How much are buyers willing to pay for lower-carbon metal? Explore the production, demand and consumption forecasts of bauxite and alumina in our report: “ Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook ” Why aluminium is further ahead Aluminium has had more time to establish a market for...
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A00 aluminium ingot price again dropped to RMB 13970 per tonne on Friday, 14 June 2019. That was down RMB90 per tonne from yesterday. The average price is expected to range at RMB13950-13990 per tonne. Spot aluminium price is likely to be traded at a discount of RMB 10 per tonne to premium of RMB 30 per tonne. Aluminium ingot price in Foshan came in at RMB 14050 per tonne, down RMB11 0 per tonne. The average price is expected to range at RMB14030-14070 per tonne today. Ingot price in Wuxi and Hangzhou declined RMB 60 per tonne and RMB 70 per tonne to stand at RMB 13975 per tonne and RMB 14000 per tonne. Aluminium ingot price in Chongqing, Shenyang, Tianjin, Linyi, and Gongyi stood at RMB 13980 per tonne, RMB 14015 per tonne, RMB 14000 per tonne, RMB 14090 per tonne and RMB 13895 per...
As the first five months of 2019 has come to an end with a sense of reconciliation for the global aluminium industry after a year of trade wars, restrictive tariffs, sanctions and capacity cuts; the stakeholders of the industry are preparing for an active and profitable second half with a renewed zeal. At this juncture, AlCircle is preparing to launch an e-Magazine on the theme “ Aluminium LeaderSpeak 2019” . Purpose of this exclusive online magazine is to get industry leaders from the complete aluminium value chain on board to share with our readers how they think year 2019 would transpire for themselves as an organization as well as for the industry. Top industry leaders will be sharing their business strategies and outlook for 2019 and their perspectives on how the Aluminium Industry...
According to Reuters, Rusal plans to issue a Chinese yuan-denominated bond, called a Panda bond and a rouble bond in order to raise fund for a new smelter. The world’s largest aluminium producer outside China was barred from borrowing during the sanctioned period. Now that the sanctions are lifted after Deripaska gave up control of the firm, the company is back to raising funds. “We see that all the key banks are actively returning to us with proposals for different instruments. We are analysing them and will use these opportunities if necessary,” said Oleg Mukhamedshin, head of equity and strategic development at Rusal. Rusal last tapped the Chinese bond market in 2017. The company will issue the bond once it gets credit ratings from Chinese agencies. Rusal raised 15 billion roubles...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.118 million tonnes as of Thursday June 13. Inventories registered a drop of 30,000 tonnes from 1.15 million on Thursday June 6. Primary aluminium stocks declined 64,000 tonnes in the previous week. Stocks in China continued to fall this week, at a slower rate, as consumption weakened. The chart below indicates the current status of primary aluminium inventories across all major China markets: Inventories of primary aluminium in Wuxi, Jiangsu and Shanghai dropped from 410,000 tonnes and 228,000 on Thursday June 6 to 392,000 tonnes and 217,000 tonnes on Thursday June 13. This was down 18,000 tonnes and 11,000 tonnes. Stocks in Nanhai,...
The US dollar index rose on Wednesday, even as government data showed moderate US inflation in May. Most LME base metals closed lower on Wednesday but aluminium advanced 0.5%. SHFE base metals performed similarly overnight and aluminium inched up. Improved market sentiment bolstered three-month LME aluminium on Wednesday closing 0.48% up at US$1,786.5 per tonne. LME cash contract closed slightly lower at US$ 1753.50 per tonne at the day’s closing. LME aluminium is expected to trade between US$1,750-1,820 per tonne today. As on June 12, Wednesday, LME aluminium cash (bid) price stood at US$ 1753 per tonne, LME official settlement price stands at US$ 1753.50 per tonne; 3-months bid price stands at US$ 1785 per tonne, 3-months offer price is US$ 1786 per tonne; Dec 20 bid price stands at US$...
A major shareholder of the Portland aluminium smelter has reportedly revealed that the high cost of electricity is threatening the future viability of the plant. According to Alumina Limited managing director Mike Ferraro’s report to The Australian Financial Review , “Prices (for electricity) have fallen because of renewables coming on stream, but it still needs to continue to fall to achieve the sort of returns that we need to achieve to keep the facility operating.” Member for South West Coast Roma Britnell is of the opinion that high power prices are the biggest issue that businesses across Victoria are suffering from, especially the energy intensive industries like the Portland smelter. She said the state government should have made power more affordable for the Portland smelter so...
According to a recent report, Alcoa has bagged an award as a silver tier employer in the Australian Workplace Equity Index Awards (AWEI). Chairman and managing director Michael Parker said, “The aim was for every Alcoa employee to bring their whole selves to work and to feel included and valued for who they were and for the diversity of ideas and experiences they brought.” “Since 2013, our ally network for LGBTI employees, EAGLE, has grown from 30 members to more than 500, all banding together to champion change across the business,” Mr. Parker said further. Under the leadership of Alcoa’s Pinjarra Alumina Refinery manager Mark Hodgson, the network actively promotes a culture of inclusion and rallies support for LGBTI colleagues. Some of the activities in which the EAGLE network has taken...
The Aluminum Association announced yesterday that the Association’s President and CEO Heidi Brock is resigning from the chair later this year to become President and CEO of the American Forest and Paper Association. The Aluminum Association Board of Directors has started the search for a successor for Ms Brock. “Over nearly eight years as President and CEO, Heidi has grown the Aluminum Association’s value proposition and membership. Today, the association is speaking with a strong, united voice across the aluminium value chain and is a recognized leader on critical issues including sustainability and trade,” said Michelle O’Neill, Alcoa Senior Vice President for Global Government Affairs and Sustainability, and Chair of the Aluminum Association. Since 2011, Brock has been constantly...
The Federation of Aluminium Consumers in Europe (FACE) has reportedly launched a campaign to urge the European authorities to remove import tariffs on primary aluminium, particularly, unwrought aluminium. The import tariffs range between 3 per cent and 6 per cent. In support of this campaign, FACE has published a study commissioned to the LUISS University in Rome that shows maintaining the import tariffs on unwrought aluminium had incurred an extra-cost of up to €18 billion on the EU's downstream aluminium sector between 2000 and 2017. The downstream sector accounts for 92 per cent of the jobs and 70 per cent of the turnover of the European Union’s aluminium industry. The LUISS study also shows that the 6 per cent import tariff on unwrought aluminium for protecting EU producers could not...
The US dollar index dipped on Tuesday on higher US interest rates. Bolstered by hopes that China will pump money into building metals-intensive infrastructure, LME base metals closed higher across the board on Tuesday. LME and SHFE aluminium crept up slightly. Three-month LME aluminium climbed to an intraday high of US$1,797.5 per tonne on Tuesday before it lost most of those gains to close the trading day at US$1,778 per tonne. The unwinding of short positions \accounted for the gains on the day. LME aluminium is expected to trade between US$1,770-1,820 per tonne today. As on June 11, Tuesday, LME aluminium cash (bid) price stood at US$ 1754 per tonne, LME official settlement price stands at US$ 1754.50 per tonne; 3-months bid price stands at US$ 1783 per tonne, 3-months offer price is...
A00 aluminium ingot price marks second consecutive increase today to RMB14080 per tonne. The average prices are expected to range between RMB14060 per tonne and RMB14100 per tonne. Spot aluminium contract is likely to be traded at a premium of RMB10-50 per tonne. Aluminium ingot price in Foshan stood 0.07 per cent higher on Wednesday, 12 June 2019, standing at RMB14180 per tonne. The average price is expected to hover at RMB14160- 14200 per tonne today. Ingot price in Wuxi, Tianjin, and Gongyi remained unchanged at RMB 14060 per tonne, RMB14070 per tonne, and RMB14010 per tonne. Ingot price in Hangzhou increased RMB 10 per tonne to stand at RMB 14090 per tonne. Aluminium ingot price in Chongqing, Shenyang, and Linyi came in at RMB14110 per tonne, RMB14100 per tonne and RMB14180 per tonne....
According to Abal, the aluminium industry association of Brazil, Brazil's primary aluminium output dropped 19.7% YoY to 48,400 tonnes in April 2019. This was the second smallest production volume recorded in 2019. Month-on-month, Brazil’s primary aluminium production dropped 3.6% from 50,200 tonnes in March. According to the association, the total primary aluminium production from January to April also dropped 23.5% to 195,400 tonnes in comparison with the same period of 2018. Brazil’s full-year aluminium output for 2018 stood at 659,000 tonnes. Brazil being the center of South America's aluminium value chain, its declining aluminium output has been impacting South American total production. Regional primary aluminium output dropped 20.4% year-on-year to 82,000 tonnes in April, according...
The US dollar recovered on Monday as the US and Mexico reached a deal to avoid tariffs. Most LME base metals closed higher on Monday and aluminium rose 0.9%. Most SHFE base metals also ticked up overnight and aluminium gained 0.3%. Three-month LME aluminium rebounded from an intraday low of US$1,752.5 per tonne to close 0.94% higher at US$1,777 per tonne on Monday night. The loading up of long positions primarily accounted for the gain over the day. LME cash contract closed lower at the day’s trading but recovered some losses overnight. Three months LME aluminium is expected to trade between US$1,760-1,820 per tonne today. As on June 10, Monday, LME aluminium cash (bid) price stood at US$ 1720 per tonne, LME official settlement price stands at US$ 1720.50 per tonne; 3-months bid price...
As updated by Shanghai Metals Market, A00 aluminium ingot price in China increased from RMB 14020 per tonne on June 10 to RMB 14070 per tonne on June 11. The average prices are expected to range between RMB 14050 per tonne and RMB 14090 per tonne. Spot aluminium contract is likely to be traded at a premium of RMB 40 per tonne. Aluminium ingot price in Foshan registered an increase of RMB60 per tonne today and came in at RMB 14170 per tonne. Ingot price in Wuxi and Hangzhou increased RMB 50 per tonne and RMB 55 per tonne to stand at RMB 14060 per tonne and RMB 14080 per tonne. Aluminium ingot price in Chongqing, Shenyang, Tianjin, Linyi, and Gongyi stood at RMB 14100 per tonne, RMB 14085 per tonne, RMB 14070 per tonne, RMB 14150 per tonne and RMB 14010 per tonne. Aluminium Alloy (A356)...
Russian Economic Development Minister Maxim Oreshkin does not see Russia’s dispute with the United States on aluminium and steel duties imposed by Washington to be settled by December 2019. In June 2018, Russia filed a lawsuit with the WTO to challenge extra tariffs on steel and aluminium by the U.S. in March 2018. The country’s biggest aluminium exporter Rusal was also put under sanction in April 2018 by the U.S. treasury. Though the sanctions were lifted in January 2019, the tariffs are intact creating tension between both the countries. The minister expressed his thoughts in in Tsukuba, which is hosting the G20 ministerial meeting on trade and digital economy. "We are continuing our litigation, the procedures are not quick. It’s clear that most likely the US will oppose the decisions....
Aluminium Bahrain B.S.C. (Alba) announced it was a sponsor and a key participant in one of the leading events in the world aluminium industry, the 12th Harbor Aluminium Outlook Summit. The event was held from 4 – 6 June 2019 in Chicago, USA. Tim Murray, Chief Executive Officer of Alba took part in the Executive Panel on 5 June, covering the topics: Section 232 One Year After, Lifting of Sanctions Impact, Supply Competition in North America/Europe, and Sourcing Challenges. Alba’s Chief Executive Officer, Tim Murray, said: “The Harbor Aluminium Outlook Summit is one of the world’s most strategic events that gives in-depth insights on the aluminium industry. It is also a well-known platform to connect and engage with our peers from the aluminium business and its various sectors. As we are...
According to Shanghai Metals Market data, the production of primary aluminium during the first five months of 2019 in China stood 1.3 per cent down from a year ago. The total production thus came in at 14.56 million tonnes. In May separately, the production was at 3.04 million tonnes, down 1 per cent year on year. Lower operation capacity despite a build-up in May was one of the major factors responsible for the decline in primary aluminium production, showed SMM data on Monday, June 10. By the end of May, the domestic primary aluminium capacity in operation was at an annualised 35.81 million tonnes, up 643,000 tonnes from the end of April but down 377,000 tonnes from a year ago. New capacity and recovery at smelters in Gansu, Yunnan, Guangxi, and Qinghai lifted the operating capacity...
The US dollar dropped on Friday on disappointing US nonfarm payroll figures. LME base metals, except for tin, closed lower on Friday and aluminium fell 0.8%. The SHFE remained closed from Thursday night for the Dragon Boat Festival and will reopen today. Three-month LME aluminium fell to a low of US$1,757 per tonne on Friday before it closed the trading day 0.76% lower at US$1,760.5 per tonne. The unwinding of long positions accounted for the loss on the day. A weaker US dollar and relatively poor fundamentals are likely to keep LME aluminium rangebound between US$1,750-1,810 per tonne today. As on June 7, Friday, LME aluminium cash (bid) price stood at US$ 1732 per tonne, LME official settlement price stands at US$ 1733 per tonne; 3-months bid price stands at US$ 1765 per tonne, 3-months...
